A no-nonsense app and Industry-leading technology makes Dai investment simple, easy, and safe
Gridlock is a free and secure place to manage Bitcoin, Dai, and hundreds of other assets.
Adding guardians is a quick and easy way to turn a regular wallet into an ironclad vault. Say goodbye to the hassle of seed phrases; with guardians, recovery is worry-free and effortless.
Invest as little as $50 or as much as $18,000 daily. Crypto is transferred directly to your wallet. Credit/Debit cards accepted.
Secure your digital assets with unparalleled safety through Gridlock. Our innovative distribution method ensures that there is no single point of failure, significantly reducing the risk of loss or theft. By spreading your crypto assets across multiple secure locations, Gridlock offers a level of safety that stands out in the world of digital currency storage.
Have absolute control over your cryptocurrency with Gridlock. Our system empowers you to be the sole authority over your digital assets. With Gridlock, there`s no reliance on intermediaries or external entities for access or management. You have the exclusive control, always.
Enjoy peace of mind with Gridlock`s effortless management. Our system proactively monitors and maintains your storage network, ensuring it remains secure and up-to-date. You don`t need to be a crypto expert to have expert-level protection. Gridlock works in the background, providing a seamless experience that keeps your digital currencies protected without the extra effort on your part.
Recover lost crypto confidently with Gridlock. Our unique system allows you to easily recover Dai and other digital currencies with the help of your guardians. This distinctive approach sets Gridlock apart as the leader in safe crypto storage.
Dai (DAI) is a revolutionary cryptocurrency known as a stablecoin, aiming to maintain a stable value equal to one U.S. dollar. Launched by the MakerDAO in 2017, Dai stands out in the digital currency landscape because it is backed by a mix of other cryptocurrencies rather than a physical currency like the dollar.
At its core, the Maker Protocol is an open-source project running atop the robust Ethereum blockchain, utilizing smart contracts to manage and generate Dai. This decentralized application ensures that for every Dai in circulation, there is a corresponding amount of ETH or another crypto asset locked up as collateral, over-collateralizing the currency to safeguard its value even in market downturns.
The process of creating Dai is straightforward yet secure. Users deposit their cryptocurrency into Collateralized Debt Positions (CDPs), which can be thought of as safety deposit boxes within the Ethereum blockchain. In exchange for locking away their assets, users receive an equivalent amount of Dai, effectively taking out a loan against their holdings. To retrieve their collateral, users simply return the Dai along with a small stability fee.
One key aspect of Dai's design is its decentralized nature. The Maker Protocol and the governance of Dai are in the hands of MakerDAO, a decentralized autonomous organization without central control. This ensures that Dai's supply and ecosystem are managed transparently and democratically by its community, rather than by any singular entity.
The value of Dai lies in its stability and utility. Unlike volatile cryptocurrencies such as Bitcoin or Litecoin, Dai offers traders and crypto enthusiasts a haven from sudden market movements. This feature is especially valuable for those seeking to move or maintain value without the usual lag associated with traditional banking systems or the susceptibility to credit evaluation processes.
Dai also has far-reaching implications for financial access and empowerment. As it eliminates the need for traditional bank assessments and offers loans based on collateral rather than credit history, Dai provides opportunities for financial inclusion worldwide, often with lower associated costs and fewer barriers to entry.
Users seeking the advantages of cryptocurrency, such as borderless transfers and programmable money, without the risk of price swings, may find Dai to be an optimal choice. It unites the best of both worlds: the innovation of blockchain technology and the stability of conventional fiat currencies.
For secure storage of Dai and other digital assets, Gridlock offers a state-of-the-art solution that ensures peace of mind and protection for your cryptocurrency holdings. Choosing Gridlock as your crypto storage option ensures that your Dai remains safe and accessible, leveraging advanced security measures within the dynamic world of decentralized finance.
Picking out the best Dai wallet is easy once you understand the options available. There are many different types of Dai wallets out there, with some designed for rock-solid security, others built for ease of use, and a few that offer a bit of both.
Software wallets are the most common option and are a quick way to store Dai. They can be apps on your phone, add-ons in your web browser, or even websites. To get started, download the wallet of choice, make an account, and soon, you are set up to store or transfer your crypto.
But there's a catch. Your encryption key is not as safe in these types of wallets. The encryption key is like a super-secret password for your Dai and is kept on the web or in your browser. That's why these are called "hot wallets." These wallets work online, which means they're more accessible to hackers, and if they get your encryption key, you lose all of your Dai.
Securely managing software wallets can be tricky as well. They use something called a seed phrase—a list of words that lets you into your wallet. Mix up these words or forget them, and you will forever lose access to your wallet! One mistake and your Dai is lost.
These issues make it clear that while software wallets are handy for quick buys and moving money around, they have risks.
Hardware wallets are compact, portable vaults that securely store the unique keys for your Dai and keep those keys offline and away from hackers. This means they're not connected to potentially vulnerable internet-linked devices like computers. To use them, you must physically connect these wallets to your computer when transferring your Dai.
The offline nature of hardware wallets provides a strong barrier against hackers, as your secret keys are not accessible via the internet. These devices are secured with a PIN or password to protect from someone stealing all of your Dai if they find your hardware wallet.
However, there are notable drawbacks to hardware wallets. They're not the most convenient for regular, day-to-day transactions. Each time you need to make a transaction, you must physically connect your hardware wallet to a device, which can be cumbersome. This process can be a significant hassle and potentially a missed selling opportunity if there is a big change in the price of Dai.
Using hardware wallets can be tricky, especially for people new to cryptocurrency. These wallets differ from online or phone wallets because you need to know more about keeping and moving your digital money safely. You have to be careful with many security steps and learn how to connect the wallet to other places to make payments. You could lose your Dai if you make a mistake, like mixing up private keys or not following the right steps.
Hardware wallets also have a big flaw because they keep all your digital money in one place, on one fragile piece of plastic. If you lose the wallet, it breaks or stops working; you might not be able to get your money. These wallets usually have a backup plan using special phrases, but getting your Dai back this way can be complex and could fail outright if you've lost your seed phrase. If you lose these backup phrases or someone steals them, your Dai is gone forever.
A web wallet, which is usually part of an exchange, is another way to store Dai, but they come with risks. A big part of these wallets is that they are "custodial," which means the website or service holds onto your encryption key – the super-secret code that locks and unlocks access to your Dai.
Here's the catch with custodial wallets and exchanges: when someone else has your encryption key, they have full control of your crypto, and you have no control. There's a common saying in the crypto world, "Not your keys, not your coins." This means you don't own your crypto if you don't control the keys. So, if the people running these wallets or exchanges are not reliable or make mistakes, you could lose all your cryptocurrency.
For example, if the website gets hacked, has technical problems, or even if the people running it are dishonest, your Dai could be at risk. Since they hold your keys, they control your Dai, and if something goes wrong on their end, you might not be able to get your crypto back. This is why many people are cautious about keeping their crypto in custodial wallets or exchanges, especially for long-term storage. They're often flashy and convenient for trading, but they are not the safest place to keep your digital money for a long time.
The Gridlock Wallet is a modern solution for storing Dai, offering a unique blend of features that set it apart from traditional hardware and software wallets. This is possible because Gridlock is a distributed Dai wallet.
Unlike hardware wallets, which are reliant on a single device, the Gridlock Wallet doesn't rely on a single device, making it less risky in terms of physical loss or damage. It's also more user-friendly, eliminating the complex steps that often make hardware wallets daunting, especially for newcomers.
In contrast to software wallets, which often leave users juggling complex seed phrases and facing the risk of a single point of failure, the Gridlock Wallet offers a significantly higher level of security. Its distributed nature means it does not rely on a single password or code, making it a stronger, smarter choice for protecting your digital money.
Gridlock Wallet offers a secure and user-controlled alternative to web wallets and exchanges. Web wallets, which are often custodial, pose risks like hacking and potential mismanagement by the wallet providers. Gridlock users maintain full control over their encryption keys, greatly reducing the risk of losing Dai due to these external factors.
Lastly, the Gridlock Wallet simplifies the recovery process. Where other wallets depend on complex seed phrases susceptible to loss and theft, Gridlock provides a much simpler and safer way to regain access to your account based on the novel guardian protection mechanism.
Overall, the Gridlock Wallet emerges as a comprehensive option for those seeking the security of a hardware wallet, the convenience of a software wallet, and the true ownership of a non-custodial solution. Its design addresses the common pitfalls of all alternatives, making it an attractive choice for secure and hassle-free Dai ownership.
Remember, when you're picking a wallet for your Dai, it's all about what fits your needs and keeps you feeling secure. Whether it's the quick software wallet, the secure-but-complex hardware wallet, the risky web wallet, or the super-smart Gridlock wallet, choose the one that's right for you and your Dai.
With Gridlock, you can safely store over 1000 cryptocurrencies, including these listed bellow.